Traditional Banks are Essential

Thank you for being America's lifeblood

Traditional banks around the country are stepping up to help customers, inject confidence and stability, and help keep the economy open.

It's no question why traditional banks are considered "essential" to the communities they serve. Since the beginning of this global pandemic, banks have been working round the clock as first responders to customers, and especially hurting small businesses, to minimize the adverse financial effects of this crisis and help to normalize the economies in their local markets.

We want to especially acknowledge and thank those bank employees who are on the front lines, keeping bank branches open and delivering essential financial services to their customers and communities during this difficult time. We are very proud of the level of support traditional banks provide to their customers and communities during this time of crisis.

THANK YOU for all that you are doing. Please know that we are cheering you on and that we'll all get through this together!

COVID-19 News & Resources

The American Bankers Association has put together a great list of what banks around the country are doing to step up during these times. Check it out here: https://www.aba.com/about-us/press-room/industry-response-coronavirus

The Independent Community Bankers Association has assembled a summary of key provisions for community banks in the stimulus bill here: https://www.icba.org/news/blog-details/main-street-matters---advocacy/2020/03/26/key-provisions-for-community-banks-secured-in-stimulus-billÂ

Accounting Today details the delay in the implementation of CECL (Current Expected Credit Loss) in the relief package here: https://www.accountingtoday.com/news/senate-coronavirus-relief-package-includes-cecl-delay

Seizing Opportunities, Reducing Risk

Dr. Anthony Fauci, head of the National Institute of Allergy and Infectious Diseases, stated about COVID-19, "I know we'll be successful in putting this down now, but we really need to be prepared for another cycle." Fauci cautioned that Americans need to be prepared for the possibility that COVID-19 could become a seasonal disease. See more about risk increases with more employees working remotely, threats beyond viruses, and more here:

https://www.bankonitusa.com/uploads/bankonit-q2-2020-information-technology-for-directors.pdf


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Friends of Traditional Banking is a non-partisan grassroots effort organized by bankers in 2012 to improve the political and regulatory environment for the traditional banking industry in the U.S. FOTB is the inverse of a PAC--instead of spreading a little bit of money to a lot of campaigns, they focus a lot of money on a couple of key campaigns.